Medical Transportation Factoring - Ambulance Service Financing
Use medical transportation factoring for your business daily cash flow needs
If you’re a provider in the medical industry, you understand slow payments.
Getting paid in the Non-Emergency Medical Transportation (NEMT) industry can be highly challenging. You run routes, pick up / drop off on time, log the miles, pay your drivers, and send the invoices, but then you’re stuck waiting for payments for 30, 60, or even 90 days. In the meantime, bills are accumulating, drivers are expecting their salaries, and you need to cover your ambulance service’s ongoing operational costs.
Cash Flow Emergency
Med-Express provides emergency and non-emergency medical transportation for a major metropolitan area. “We’re a small service provider in a large market trying to compete with a national service provider. We have plenty of opportunity to take on more routes and patients but lack consistent cash flow for the daily necessities… fuel, insurance and payroll.”
Med-Express was formed in 2004 and has operated break-even since inception. In 2010, the owners defaulted on their mortgage and the associated HELOC they used to support the business’ inconsistent cash flow. “Like many, we had purchased more home than we really could afford and when the ARM adjusted, we simply could not afford to make the payment or refinance. When we could not access our home equity line, we had a real emergency.
We have a friendly competitor that utilizes Gateway Commercial Finance for their daily cash needs so we gave them a call. Gateway moved quickly to ensure we had the necessary support for our day-to-day needs so we could get back to doing what we do best…saving lives!”
Delivering Critical Solutions
Sound familiar? If so, you’re not alone. Many NEMT companies face this exact everyday cash flow headache. But here’s the good news: invoice factoring can give you the breathing room to keep your business rolling without waiting forever to get paid.
How Healthcare Transportation Factoring Can Help You Stay on the Road
Whether you’re working directly for a facility or providing services to a third-party logistics provider like Modivcare, Southeast, MTM, or Access2Care, receivable factoring is a simple, accessible financial solution that gives you cash upfront for the services you’ve already provided. Instead of waiting months to get paid, medical transportation factoring allows you to sell your unpaid invoices to a factoring company, like Gateway Commercial Finance, at a small discount. You get the cash you need now, and they wait for the invoices to be due to collect the payment.
Let’s explore how factoring can address several of the unique challenges you encounter in the NEMT industry:
No More Cash Flow Crunches
Waiting for payments can leave you strapped for cash. Factoring immediately fixes that by giving you the funds from your outstanding invoices within hours. This means you can pay your bills on time, keep your fleet in top condition, and avoid those nail-biting moments of “Can I make payroll this week?”
Cover the Costs of Expansion
Expanding your business means more expenses. Factoring gives you access to the money you’ve already earned to reinvest in your business—whether that means growing your fleet, hiring more staff, or investing in better tech.
No More Sleepless Nights Over Late Payments
Medical transportation clients have long payment cycles, but with factoring, you get paid almost immediately for your invoices, so you’re not held hostage by long payment delays.
No Debt, Just Cash Flow Relief
Factoring isn’t a loan. It lets you get money owed to you faster without taking on debt or worrying about interest. This financial solution helps keep your balance sheet clean and your business running smoothly.
Keep Your Drivers Happy
Happy drivers mean a happy business. Paying them on time with factoring ensures consistent cash flow, reduces turnover, and keeps your team satisfied, which is essential for excellent customer service.
Handle Unexpected Costs with Ease
Unexpected expenses are common in the NEMT business. Factoring provides a financial cushion to handle these surprises without stress.
Why Choose Gateway Commercial Finance for Your Invoice Factoring Needs
When it comes to solving your cash flow challenges, Gateway Commercial Finance stands out with experience and tailored solutions designed specifically for the unique needs of NEMT businesses. Here’s why you should trust us to handle your factoring:
- Experience: We’ve worked with some of the larger NEMT brokers for years and understand their payment processes. This ensures your most valuable relationships are respected.
- Fast Cash Access: We provide quick funding, often within 24 hours, so you can get immediate access to working capital without waiting for slow-paying customers.
- Start-ups: We welcome working with new entrants to the NEMT industry.
- Flexible Funding Limits: Whether you need a small infusion of cash or substantial capital, our flexible funding solutions can grow alongside your business as you take on more clients.
- No Long-Term Contracts: Enjoy the freedom to factor your invoices when needed without being locked into long-term agreements. You stay in control.
- Competitive Rates: Our industry-leading, competitive factoring rates ensure you get the most value from your invoices and keep more of your hard-earned money.
- Non-Recourse Factoring: In certain situations, we offer non-recourse factoring, meaning if your client doesn’t pay, you’re not on the hook. This provides you with peace of mind and additional protection.
- Dedicated Account Managers: You’ll have a dedicated team working with you, ready to provide personalized service and support when needed. There are no call centers—just real people helping you succeed.
- Handle Slow-Paying Clients with Ease: Focus on your business, not chasing down late payments. We manage collections on your factored invoices, letting you stay focused on growth.
Choosing Gateway Commercial Finance means selecting a partner who’s invested in your success. We offer fast, flexible, and transparent factoring solutions that let you focus on what matters—running your NEMT business without the stress of cash flow problems.
Start Factoring Receivables Today And Watch Your Business Grow
Don’t Wait—Solve Your Cash Flow Problems Today! The longer you wait for payments, the more stress and financial strain your business will face. But it doesn’t have to be this way. With invoice factoring from Gateway Commercial Finance, you can get the cash you need to keep your business running smoothly, grow your operations, and stay ahead of the competition.
Don’t let slow payments hold your NEMT business back. Contact a decision-maker today and discover how ambulance factoring can solve your cash flow problems once and for all! Let’s keep you on the road, stress-free.